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The total attendance of students during the year, upon the
.84 A catalogue of students, and a statement of the course of study in the several departments, with other information relating to the internal arrangement and management of the University will be found in the Report of Prof. J. W. Sterling.
The finances of the institution growing out of the erection of the new hall, and the failure of the Board to receive either the appropriation made by the State, from the principal of their fund, or the temporary loan from the general fund, authorized at the last session, are, and have been somewhat embarrassed.
The following exhibits the financial condition of the University, on the 30th day of Sept., 1859. Am't due fund on certificates of sales....,
$248,483 02 on loans....
52,242 20 Total productive fund.
$803, 923 60 Balance in treasury ..
3,198 60 Total ......
$300,725 22 The permanent indebtedness of the institution is as follows: ma of loans from School Fund..
-$30,000 University Fund.
24,110 General Fund..
10,000 J. D. Ledyard..
$69,110 Floating indebteåness : Outstanding warrants drawing 10 per cent interest...
$20,683 73 Balance due contractors...
612 45 laborers upon grounds, &c., &c..
200 00 Superintendent.
$20,000 Fees from Students...
1,500 Total .....
-$21,500 The expenditures, including salaries, interest, and contingent expenses of all kinds, it is estimated, will leave no surplus in the treasury at the close of the year.
The Regents have directed their executive committee to draft a memorial to your honorable body, setting forth the amount and kind of relief desired, and which, if granted will, it is believed, entirely relieve the board of future financial embarrassments.
The committee take pleasure in saying that in their opinion the affairs of the institution and its prospects are hopeful and full of promise for the future. It was scarcely to have been expected that the Regents could have erected within the past ten years the necessary buildings, costing as they have an aggregate of about $85,000, with no resources but loans, or the income of their fund-and have carried on the several departments and courses of study as the have, without occasional embarrassments. Still, had it not been for an act of ill faith on the part of public officers in loaning out the surplus actually in the treasury, when the act authorizing the central edifice was passed; or had not the financial panic of 1857 occurred, they would have been enabled to complete their undertaking without calling upon the State for assistance. As the case now stands, the relief asked for can, it is believed, be granted without any detriment or inconvenience, either to the State or University. By the creation of a sinking fund, their whole indebtedness can be liquidated without material interference with the purposes and objects of the institation. All of which is respectfully submitted.
H. A. TENNEY,